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Could you please help me with double-entries.
During the year a property was sold for £950,000. The property originally cost £150,000 and was revalued to £526,000 during 2013. Accumulated depreciation on this asset was £20,000 at the date of the revaluation. The carrying value of this asset at 1 January 2014 was £500,000.
During the year a property was sold for £950,000. The property originally cost £150,000 and was revalued to £526,000 during 2013. Accumulated depreciation on this asset was £20,000 at the date of the revaluation. The carrying value of this asset at 1 January 2014 was £500,000.
